Development Ministry
Development Ministry imposes €243,000 fines on counterfeit products in Thessaloniki
The Development Ministry imposed fines totaling 243,000 euros on six businesses in the wider area of the northern port city of Thessaloniki for counterfeit products.
During inspections conducted by the Market Control Interagency Unit (DI.M.E.A.), 34,626 counterfeit items were seized and destroyed.
Consumer app being upgraded to compare supermarket prices
The Development Ministry is seeking to assign the role of "Big Brother" for 15,000 product codes to the e-katanalotis market monitoring platform.
Price cuts have taken effect
Since Friday, infant formula has been between 5% and 16% cheaper than it was up until Thursday, while a series of other commodities also saw their retail prices drop as a result of the ceiling imposed on gross profit margins by the Development Ministry.
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Grocery price reduction expected next month
Price reductions in supermarket items will be visible to consumers as of early March, due to the implementation of measures by the Development Ministry, while as market executives commented to the Athens-Macedonian News Agency, it is considered certain that the goal of reducing food inflation will be achieved.
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More measures as prices rise
The measure banning special offers on retail products whose prices have been hiked is being extended to more products, concerning those with an increase after January 10, 2024, in an apparent effort by the Development Ministry to reduce inflation as high prices remain the biggest problem for citizens.
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Government announces additional regulations against high prices
The Government Gazette published on Tuesday the ministerial decisions that complete the government's measures to combat high prices, with Development Minister Kostas Skrekas commenting that the measures voted in on January 18 have already started to have an effect.
Dairy company fined 561,000 euros for profiteering
The Greek branch of an international dairy cooperative is being slapped with a 561,000-euro fine for inflated pricing, including on baby formula, that violates market rules aimed at curbing profiteering, the Development Ministry said.
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Most fines on profiteering collected; more to come
Most of the fines imposed by the Development Ministry for profiteering have already ended up in the public coffers, while, according to the Athens-Macedonian News Agency, new findings from the price control on baby formula seem to be leading to new high fines.
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Winter Sales will last till end of February
Winter sales kicked off on Monday and will be running through the end of February. Stores can also open on Sunday, January 14 and 21. According to representatives of the retail sector, following a reasonably successful Christmas period, the winter sales are expected to inject fresh momentum into the market.
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Santa’s Basket launched for holiday season
"Santa's Basket," aimed at offering consumers affordable toys ahead of the holidays - the equivalent of the Household Basket for basic goods - was launched Friday and concerns toy purchases for the period of Christmas and New Year.
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